Maybank Expands MU Partnership With New Debit Card

KOTA KINABALU (Sabah, Malaysia), April 20 (Bernama) -- Maybank is seeking to attract 50,000 cardholders for its new Manchester United (MU) debit card within the next 12 months. This is also in line with the bank's effort to expand its partnership with the English football giant. Maybank's first co-brand debit card, was unveiled on Friday by Prime Minister Najib Razak, in conjunction with Permodalan Nasional Berhad's (PNB) investment week or Minggu Saham Amanah Malaysia 2012. In a statement, the bank said the MU debit card was issued in partnership with Visa International, as it is an extension of the Manchester United Credit Card series launched in November last year. President and Chief Executive Officer Abdul Wahid Omar said the launch of the co-brand debit card is part of Maybank's strategy of working with leading brands to offer distinct value to its customers. He said the new card enables Maybank to increase its penetration in the local debit card market, where it is already the leader with a 35 per cent market share in card base, and 55 per cent share of debit billings. "Given the international reach of the MU brand, this card will enable us to further enhance our brand equity in the international market. "Our long term plan is to take this card brand regionally to our other home markets, namely Singapore and Indonesia, as well as the Philippines and Cambodia, where the MU brand already has a strong following," Abdul Wahid added. Maybank has at present over eight million debit customers, with debit card spending, growing over 21 per cent in the last year. -- BERNAMA